Dateline Resources jumps on US court motion
- The US Department of Justice filed a court motion on Sept. 25 to suspend an injunction halting operations at the Colosseum Project.
- Shares of Dateline Resources surged as much as 50.8% following the legal development.
- The US Department of War cited national security interests and rare earth supply needs to support resuming mine activities.
Dateline Resources (ASX:DTR) saw its shares rally after the US Department of Justice filed a motion to lift an operational injunction at the Colosseum Project.
The legal action targets a preliminary injunction issued on Aug. 10 that temporarily halted activities at the site.
The motion filed in the US District Court for the Central District of California is scheduled for a hearing on Oct. 26.
A successful stay would allow the business to restart operations under its approved Plan of Operations while an appeal proceeds in the US Court of Appeals for the Ninth Circuit.
Following the announcement, the Dateline Resources share price was up at $0.089.
The company holds a 100% interest in the Colosseum Gold-REE Project located in San Bernardino County, California.
In May, the business completed a bankable feasibility study for the Colosseum gold asset.
